Itiviti’s Board of Directors, the Stockholm-based provider of technology for capital markets, has announced that the transaction to merge with ULLINK has been completed. The intention to combine Itiviti and ULLINK, the London-based provider of multi-asset trading technology and infrastructure for buy-side and sell-side market participants, was jointly communicated by the companies and owner Nordic Capital in November 2017. In a statement, the companies announced that the combination of the two technology providers will equate to annual sales exceeding $200 million, 1,000 employees and local presence in major financial markets across Europe, Asia-Pacific and the Americas. The companies bring similar industry experience to the new organisation, each carrying a heritage of technology leadership. The combination aims to offer customers the industry’s broadest range of solutions and services spanning asset classes and trading applications based on modern, flexible technology architected for performance and updated to meet latest compliance requirements. The business focus will be on growth and expansion. The Board has appointed Torben Munch as Chief Executive Officer of the combined entity. Munch commented: “Entering a new phase as the head of Itiviti’s business, I am fortunate to lead an organisation with outstanding credentials, in terms of what ULLINK and Itiviti together bring to the table. Ultimately, this merger will be judged by our delivery. Our products, solutions and the services we provide must validate that we are growing into an even more capable supplier and partner; one that can best satisfy the needs of the customers’ business, enabling their strategic initiatives as well as providing unfaltering daily support to sell-side and buy-side financial institutions.”
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